WSU president gets a raise

The Washington State University Board of Regents approved a pay hike for university President Elson Floyd Friday.

New Washington State University president Elson Floyd addresses the media in downtown Seattle. (Andy Rogers/Seattle Post-Intelligencer)

Floyd’s contact was extended four years, and his annual base salary went from $600,000 to $725,000. And now if Floyd remains at WSU through June 30, 2012, he will receive $500,000 in incentive pay — up from the $350,000 stipulated in his first contract.

The pay increase is aimed at keeping Floyd, who was highly praised at Friday’s meeting.

Francois X. Forgette, chair of the board, said:

“Dr. Floyd is an outstanding leader in higher education, and the regents strongly believe he should be compensated as such. During his first year of leadership, the university has made great strides and we look forward to more progress in the years ahead,”

Floyd came to WSU in 2006 after serving as president at the University of Missouri.

His base salary will now outpace that of University of Washington President Mark Emmert, though Emmert’s annual $905,000 compensation package means he’s still one of the highest-paid public university presidents in the country.